Worst bank. I had an 15 years loan for 3 years with 5/3 Bank, always paying on time. I been a homeowner for 20 years. Since I was 24 yoa I bought my first house. My credit score 801. I was refinance with them for a 30 years, the process started July 24th. My insurance was due by Sept 15th. Well the bank sent the payment for my flood insurance to the wrong address and $1,000 more than it supposed to. My flood insurance was cancelled, it was their own fault. Since August 20 until October 15th the hold for my closing was my insurance. They changed account numbers in my insurances and still my flood insurance wasn't even pay. I had to get involved October 15th and 5/3 bank send the money right away to the right place and get my insurance reinstated. After all was October 24th and they want to increase my interest rate due to the fact the 3 months was over at the lock rate from the beginning.
I didn't pay my Sept mortgage because they told me the closing will be happening at the beginning of September. They kept delaying my closing b/c of insurance by October 15 I was already late 2 months on my mortgage and had to paid both month. 5/3 bank reported to the credit bureau and my score went down. After all I cancelled everything and they kept my $350 application fee. They are thief.
Now I refinanced with Quicken Loan and only took 2 weeks for the closing. Also, for me to request a payoff amount they charged you a fee, just to plug numbers in the computer and give you the right amount. I had bought few houses and refinance like 4 times and this was the worst experience ever, even thought I sent my papers only in 2 day after I spoke to a representative. Also they are rude while treating people for mortgages. I will not recommend this bank at all. I closed all my daughters savings accts, my checking and saving accounts with them.